So lets shift to the Kanye contract, and were not going to do a full breakdown of what all these documents are, because theres a lot and there are good YouTube videos out there. I have a lot of free articles and a lot of these before and after is also on Twitter. From that money, $4 million was allocated to recording costs. What do you see? Tell me what people are talking about. The once hesitant label has now hit the. Music. So lets talk a little bit. Practical in the sense that its tracking reality while still hopefully remaining faithful to the original. Ross Guberman [00:02:46] Its you know, its a great vehicle to take this whole plan, English idea and see if we can, you know, apply it literally seriously or both, because although you say you had an emotional breakdown, hes hardly the first part of your client to object to contract language. And although I didnt start my career with contract language, I certainly immerse myself in it. Guberman has dissected the Profit Sharing Agreement section of Kanyes contract and found several areas in which the language could be more transparent. We would like to show you a description here but the site won't allow us. NO MORE. We get used to these things and then sometimes, theres a wakeup call.. All those of those terms that you can also edit out of other legal documents, theres a lot to do there that really will clean these up without ever even considering going into the substantive terms. Moments later, Kanye shared screenshots of five files. You should need NO ONE else to understand the business youre in. Ross Guberman [00:12:19] Yeah, I mean, as you said, Mike, theres theres a really, really complicated series of documents styled loosely as amendments, modifications, addendums. Kanye West's history of inflammatory statements were met with consquences this week. So I want you to do it, take advantage of it. But its all too new to know whether in any kind of dispute that language would actually be entered as evidence. You want to make sure everything is understandable, but you dont want to take related phrases within a provision and just willy nilly break them up into multiple sentences the way you might. It was pretty awesome because it was specifically about contracts. Yeezy, West's sneaker and apparel business with Adidas AG and Gap Inc., is valued at $3.2 billion to $4.7 billion by UBS Group AG, according to a private document reviewed by Bloomberg. Portals. . The partnership was a nightmare for both Negrito and the label, he says. But there theres a lot you can do there, as the GE example has shown. Was the pissing on the Grammy to much? Milana Lewis, CEO of music distribution platform Stem, says record labels should start including explanatory pro-forma documents with deals, in order to promote transparency and make it easier for artists to understand what comes in their agreements. $26.59 New. Other brands and companies that cut ties to West . Ross Guberman [00:15:01] Yeah, Kanye could read this. A month ago, Kanye West had an emotional breakdown on Twitter. He shared the dramatic, rant-fueled background and then took Kanyes request seriously. Somethings got a hold your drink place. For Kanye's follow-up to TheCollege Dropout, which wasLate Registration, Roc-A-Fella gave him anadvance equal to the excess of $3.5 million over recording costs. (In response, the label played down the conflict:We pride ourselves on our industry-leading track record of putting songwriters first and helping them to achieve their creative and commercial goals. Are they making too much? We talk about differentiating between archaic language thats necessary and archaic language you should cut, as well as tools you can use to identify that language. Due to a planned power outage on Friday, 1/14, between 8am-1pm PST, some services may be impacted. Rewrite deals to be understandable from FIRST READ. He ended the spree with, 'Whew that was a lot guys," and then tweeted a video of himself peeing on a Grammy award. So theres this GE aviation series of rewritten contracts. Right. Were were coloring pictures for you so you understand whats happening here? Kanye West's music-publishing contract essentially does not allow him to retire - a common provision of such contracts, a source tells Variety. Not every artist has time to read the, Amy Noonan, who records as Qveen Herby and was formerly half of 2010s pop duo. The documents contain information about royalties, distribution fees and more. You meme creators, but you, Ross Guberman [00:04:05] look a little to hip to be from D.C., though, and. Ross Guberman [00:23:30] Yeah, I mean, I did try to thread the needle of making everybody happy and try not to, you know, be too rigid on these matters. Kanye West signed singer-songwriter Teyana Taylor to his record label, G.O.O.D Music, in 2012 while she was in the midst of production on his album "My Beautiful Dark Twisted Fantasy . Uploaded by Kanye West is seen at a Donda listening event at Mercedes-Benz Stadium on July 22, 2021 in Atlanta, Georgia. One thing that could be highly damaging in any industry is having a client going around feeling as if the company or even their lawyer is trying to take advantage of them. These are the documents that were talking about. And the whole thing does feel very, very dated and and remote. The you know, the goal is not the same. And guys, this is a super long document. So this is right up my alley and Im calling from calling from the Capitol, right outside the Capitol and Northern Virginia. Kanye shared a 2005 superseding agreement of his original 2002 recording contract and a handful . Ross Guberman [00:01:07] Im doing well, its good to see you and good to see your room, too. Were going to deduct a million dollars. Kanye's call for transparency in the music business has made other artists and industry insiders speak up. Artists like Kanye feel that they are being cheated. Not every artist has time to read the Donald Passman bookand find out what every term and clause means, and while there are great lawyers out there, too many just want their 5 percent [commission].. Kanye West, someone God had chosen to do something very special in the world. Some of the phrases are unnecessarily complicated. Every audio file, every asset, every deal stored WITH the money. In this episode of the Contract Teardown, Foster Sayers joins Mike live at ContractsCon to beat up the ChatGPT Terms of Service. August 6, 2021 3:35 PM EDT. The contract indicates that these figures would increase with each release, and Kanye West and his company would receive 20 percent of each minimum after notifying the label that the. The equity is the Artists. This is a situation were in. Obviously, we cant share the whole thing, but well make sure that you have a link to the whole thing in the show notes over at LawInsider.com/Resources. And then what happens is, as you can see from his other related tweets, the sense is not just, well, I dont understand the contract. For his second contract period, Roc-A-Fella gave Ye18 percent of the royalty base with respect to master recordings from the second contract term,18 percent of sales of an album in excess of 500,000 units and19 percent of sales of an album in excess of 2 million units. Join me and my friends. A lot of people say they sign a million-dollar deal, but you dont get a check for $1 million, Noonan adds. I will not share the image of Kanye West urinating on his Grammy, though. I want you to do me a quick favor. So the tool, the tool were looking at brief catch, you know, there you go. Mike Whelan [00:17:41] an interpretive sca band and Im going to have to look for the domain name. Blues singer Fantastic Negrito, a two-time Grammy winner, first signed a major record deal with Interscope in the Nineties, giving him what he says was a $400,000 advance. call Wests deal standard for an artist at his level. It shows he got a $3.5 million advance on his. See BBC report here. (Epic did not respond to a request for comment for this story. The recording fund amounts for Yeezy's third through seventh albums were listed as follows:third album: minimum recording fund $300,000, maxing recording fund $650,000;fourth album: minimum recording fund $325,000, maxing recording fund $700,000;fifth album: minimum recording fund $400,000, maxing recording fund $850,000;sixth album: minimum recording fund $425,000, maxing recording fund $900,000;seventh album: minimum recording fund $450,000, maxing recording fund $950,000. The remaining$1millionwas to be paid upon completion. West filed suit . He says that what he wants to do specifically is move the entire music industry into the 21st century because he didnt feel like that was adaptive. Its all made from events. This is the same deal your favorite artist signed, this is their label. What do you expect a young, naive artist to do? He created the first-of-its-kind editing plug-in BriefCatch. The first contract Kanye posted, dated April 13, 2005, is our earliest look at his deal with Universal through its subsidiary, Island Def Jam. Whats the language that stands out to you as particularly harmful to the understanding of the parties, which is really what a contract is supposed to do, right? The papers indicate that he started on a royalty deal frequently afforded to upcoming artists, which later evolved into a more artist-friendly pressing and distribution deal that gave Kanye more of the profits and bigger budgets as he became a superstar. Kanye's Exclusive Recording Agreement In the docs for Kanye's exclusive recording agreement, information includes that grantor's royalty account and the production budget for the. Kanye West signed his co-publishing contract with music publisher EMIwho is now owned by Sony/ATVin 2003, before the completion and release of his 2004 debut album, The College Dropout. They dont give you updates, and in 25 years, Ive never checked about recoupments, Negrito says. Right, right. And Im going to share a few images. Right. I hope youre enjoying this episode of the contract tear down show. Mike Whelan [00:22:29] he did not listen. And, to an extent, they're not wrong. So its cut down on negotiation time and led to better, you know, better deals. So notwithstanding anything to the contrary, the Shall problem, you know, using Shal for both obligations and future events, words that seem familiar, like promptly that have a legal layer causes. Whats the best way to get in touch with you to learn these skills? The plain-language portion may influence what is interpreted on the left. The before section has all the original wording, complete with legalese. Normally, its sort of reversed. Ye by Kanye West (Record, 2018) (9) 100% agree - Would recommend. West made about a 100 posts and shared screenshots of pages from his recording contract. Prince Vinyl Records. Were at sales@LawInsider.com. Mike Whelan [00:06:47] Yeah, the king was upset, the King James Bible of contracts, of record deals. Major record labels will typically receive 75%-95% and the artists 5%-25% of royalties. If you push this button, youre going to save big. Before we do, Ross, I want you to tell me about yourself. If Im the lawyer there, there are terms of art. And the record business that it means in normal English. For Kanye, his 15% royalty rate on wholesale for each sneaker sold has netted him roughly $150 million pre-tax annually. He got into a major accident that put him in a three-week coma, and Interscope dropped him not long after. This is the Def Jam amendment. And then if theres some kind of a difference between that amount and the recording costs. See's Kanye West's Record Contract Tweets, revealing the intricate details of his record label contract. Mike Whelan [00:04:08] wearing the shirt. Equity & Blanket Licenses are the majority of future new income. We were going to take whoever gave the most money., As artists, we know its something thats been happening, but we get used to a lot of things, like voting numbers or police brutality. Kanye West Posts Over 100 Pages of His Record Label Contracts, Tweet by Tweet Tyler Sharp Published: September 16, 2020 David Crotty / Patrick McMullan, Getty Images Kanye West made. How can you rewrite a contract to be understandable without losing the original intent? Many young artists dont realize how recoupment works, in which a label fronts the money for artists advances and expenses like recording and marketing, to be paid back to the label through royalties later. So come join us right now. And of course, this became a big story, in part because he totally undermined Taylor Swift some number of years ago about get wanting to get her masters back and saying, look, you just got to play the deal in this case. Should the labels be able to make a profit off of this? Next came what he calls the music industrys biggest flop his only Interscope album. The 500 Greatest Songs of All Time One common grievance: Many aspects of record deals do not reflect how the business has dramatically changed over the past decade. This is what were going after. So so talk to me about this profit sharing piece. For that LP, there was a recording fund amounting to$2.5 million. He released his two Grammy-winning albums independently more than 20 years later, and he hasnt inquired about the recoupment on his first record in years. Well make sure you get a deal as well. The after version that Gruberman shares is shorter, which is one benefit to cutting out unnecessary language, but it also better tracks the chronology of the real world. Youll get access to more content like this. Having the contract laid out in plain language can lead to fewer problems down the road. Who made this up so that record companies get 70 percent of the money? Theres this site, my my other company, legal writing pro. See everything we've learned from his record label deals below. So you keep those and then you also, of course, in your sector or industry, want to keep those terms of art as well. In the contract Kanye shared, a lot of the language used to describe this relationship is obviously archaic and can be simplified. After a slight struggle trying to share the files, Kanye boasted that him revealing his old record label contracts was going to be a literal game changer. Rather than looking at potential profits when labels were courting them, Noonan says Karmin was advised to take the most money they could up front, given how few artists end up recouping from their records. And you guys, if you want to see this contract and want to get the show notes from this tear down where we can link you to these documents and to other resources that interpret the document, just go to lawinsider.com/resources. He says the industry must holistically evaluate how to improve for any major changes to shift. West's contracts laid it all out. The rapper and his team signed an agreement on January 5 with the venue for a 25-day rental totaling $125,000, expenses of $20,000, and four new office chairs for $813, the lawsuit says. September 18, 2020. Ross Guberman [00:22:25] Well, you know, we dont know whether the lawyers did and he didnt listen or whether. Mike Whelan [00:03:02] Thats right. The first is this one from LinkedIn. If you are interested in being a guest on Contract Teardown, please email us at community@lawinsider.com. Advances are loans with 75% interest rates (or worse). Push the button. And theyre advised accordingly by an attorney at law whos telling them to sign this contract, and they say this contract is standard. Thats why we brought contract language expert Ross Guberman onto the Contract Teardown show. Adidas said on Tuesday that it was cutting ties with Kanye West, ending what may have been the most significant corporate fashion partnership of the rapper and . Mike Whelan [00:16:08] in a brief. June 21, 2019, 2:27 PM PDT. Almost no artists recoup so the system obviously doesnt work, but its tempting. And we have to be very careful, of course, you know, translating things like provisos like provided, however, that in dealing with Shell and the like. In fact, according to one of his recent Instagram posts, the Three Stripes offered to buy Ye out of his contract for $1 billion. Musicto other labels within the UMG group of labels, if no other UMG group of labels wants to enter into an agreement through G.O.O.D. Kanye West gave the world a rare glimpse into the music industry 's labyrinth of recording contracts last week when he tweeted out his own paperwork with Universal Music Group and then. Ross Guberman [00:22:31] but definitely something to that. Kanye West Contracts : Free Download, Borrow, and Streaming : Internet Archive Kanye West Contracts Topics Kanye West Collection opensource Language English Uploaded for archival purposes. Be the first one to, Advanced embedding details, examples, and help, 2005.04.13-Recording Agreement between Roc-A-Fella Records and Rock the World, LLC_abbyy.gz, 2011.01.11-Kanye WestJay Z Duet Album Agreement_abbyy.gz, 2012.05.04-Amendment recording agreement_abbyy.gz, 2012.05.07-Amendment, including original recording agreement_abbyy.gz, 2012.05.07-Profit Share Agreement_abbyy.gz, 2012.05.17-Amendment to Recording Agreement and Film Agreement_abbyy.gz, 2013.03.10-Amendment recording agreement_abbyy.gz, 2014.08.11-Amendment recording agreement_abbyy.gz, 2019.01.09--Summary of Kanye West's Label Agreements_abbyy.gz, 2005.04.13-Recording Agreement between Roc-A-Fella Records and Rock the World, LLC_daisy.zip, 2011.01.11-Kanye WestJay Z Duet Album Agreement_daisy.zip, 2012.05.04-Amendment recording agreement_daisy.zip, 2012.05.07-Amendment, including original recording agreement_daisy.zip, 2012.05.07-Profit Share Agreement_daisy.zip, 2012.05.17-Amendment to Recording Agreement and Film 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2012.05.17-Amendment to Recording Agreement and Film Agreement_djvu.txt, 2013.03.10-Amendment recording agreement_djvu.txt, 2014.08.11-Amendment recording agreement_djvu.txt, 2019.01.09--Summary of Kanye West's Label Agreements_djvu.txt, 2005.04.13-Recording Agreement between Roc-A-Fella Records and Rock the World, LLC.mobi, 2011.01.11-Kanye WestJay Z Duet Album Agreement.mobi, 2012.05.04-Amendment recording agreement.mobi, 2012.05.07-Amendment, including original recording agreement.mobi, 2012.05.17-Amendment to Recording Agreement and Film Agreement.mobi, 2013.03.10-Amendment recording agreement.mobi, 2014.08.11-Amendment recording agreement.mobi, 2019.01.09--Summary of Kanye West's Label Agreements.mobi, 2005.04.13-Recording Agreement between Roc-A-Fella Records and Rock the World, LLC_page_numbers.json, 2011.01.11-Kanye WestJay Z Duet Album Agreement_page_numbers.json, 2012.05.04-Amendment recording agreement_page_numbers.json, 2012.05.04-Letter of Direction_page_numbers.json, 2012.05.07-Amendment, including original recording agreement_page_numbers.json, 2012.05.07-Profit Share Agreement_page_numbers.json, 2012.05.17-Amendment to Recording Agreement and Film Agreement_page_numbers.json, 2013.03.10-Amendment recording agreement_page_numbers.json, 2014.08.11-Amendment recording agreement_page_numbers.json, 2019.01.09--Summary of Kanye West's Label Agreements_page_numbers.json, 2005.04.13-Recording Agreement between Roc-A-Fella Records and Rock the World, LLC.pdf, 2011.01.11-Kanye WestJay Z Duet Album Agreement.pdf, 2012.05.04-Amendment recording agreement.pdf, 2012.05.07-Amendment, including original recording agreement.pdf, 2012.05.17-Amendment to Recording Agreement and Film Agreement.pdf, 2013.03.10-Amendment recording agreement.pdf, 2014.08.11-Amendment recording agreement.pdf, 2019.01.09--Summary of Kanye West's Label Agreements.pdf, 2005.04.13-Recording Agreement between Roc-A-Fella Records and Rock the World, LLC_text.pdf, 2011.01.11-Kanye WestJay Z 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(last updated 12/31/2014). 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